Adell Harriman & Carpenter Inc. Increases Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

Adell Harriman & Carpenter Inc. grew its stake in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 8.6% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 12,824 shares of the medical research company's stock after buying an additional 1,012 shares during the quarter. Adell Harriman & Carpenter Inc.'s holdings in Thermo Fisher Scientific were worth $6,381,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bernard Wealth Management Corp. purchased a new position in shares of Thermo Fisher Scientific in the 4th quarter valued at about $25,000. Pillar Financial Advisors LLC purchased a new stake in Thermo Fisher Scientific during the fourth quarter worth approximately $29,000. Ameriflex Group Inc. purchased a new stake in Thermo Fisher Scientific during the fourth quarter worth approximately $30,000. Cassady Schiller Wealth Management LLC lifted its stake in Thermo Fisher Scientific by 89.2% during the fourth quarter. Cassady Schiller Wealth Management LLC now owns 70 shares of the medical research company's stock worth $36,000 after purchasing an additional 33 shares during the last quarter. Finally, VSM Wealth Advisory LLC purchased a new stake in Thermo Fisher Scientific during the fourth quarter worth approximately $36,000. Hedge funds and other institutional investors own 89.23% of the company's stock.

Insiders Place Their Bets

In related news, EVP Gianluca Pettiti sold 300 shares of the company's stock in a transaction on Monday, April 28th. The stock was sold at an average price of $429.93, for a total transaction of $128,979.00. Following the transaction, the executive vice president owned 23,167 shares of the company's stock, valued at $9,960,188.31. This represents a 1.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.33% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on TMO shares. Evercore ISI decreased their target price on Thermo Fisher Scientific from $585.00 to $500.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. Stifel Nicolaus decreased their target price on Thermo Fisher Scientific from $665.00 to $620.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Royal Bank Of Canada decreased their target price on Thermo Fisher Scientific from $651.00 to $637.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. Robert W. Baird cut their price target on Thermo Fisher Scientific from $603.00 to $573.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. Finally, Wells Fargo & Company cut their price target on Thermo Fisher Scientific from $580.00 to $570.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. Four analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company's stock. Based on data from MarketBeat, Thermo Fisher Scientific currently has an average rating of "Moderate Buy" and an average price target of $604.05.

Thermo Fisher Scientific Trading Up 0.1%

NYSE:TMO opened at $428.25 on Friday. The firm has a market cap of $161.66 billion, a P/E ratio of 25.12, a PEG ratio of 2.28 and a beta of 0.77. The company has a current ratio of 1.77, a quick ratio of 1.38 and a debt-to-equity ratio of 0.64. The stock's 50 day simple moving average is $409.18 and its 200-day simple moving average is $479.90. Thermo Fisher Scientific Inc. has a 12-month low of $385.46 and a 12-month high of $627.88.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last released its earnings results on Wednesday, April 23rd. The medical research company reported $5.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.10 by $0.05. The business had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.23 billion. Thermo Fisher Scientific had a return on equity of 17.15% and a net margin of 15.19%. The company's revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.11 earnings per share. Equities analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 13th will be issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date of this dividend is Friday, June 13th. Thermo Fisher Scientific's dividend payout ratio is presently 10.09%.

About Thermo Fisher Scientific

Thermo Fisher Scientific Inc provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services in the North America, Europe, Asia-Pacific, and internationally. The company's Life Sciences Solutions segment offers reagents, instruments, and consumables for biological and medical research, discovery, and production of drugs and vaccines, as well as diagnosis of infections and diseases; and solutions include biosciences, genetic sciences, and bio production to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.

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